Blackstone-backed Sona Comstar files for ₹6,000 crore IPO

The Gurugram-headquartered company is one of India’s leading automotive technology companies

The auto component maker Sona Comstar is a major supplier to the global EV market

The IPO proceeds are likely to be used for debt repayment and future capex investments

If successful, this will be the largest IPO by any auto component maker in India Inc.'s history

The public issue will include a fresh issue of shares amounting to ₹300 crore…

and an offer for sale aggregating to up to ₹5,700 crore by Singapore VII Topco III, an affiliate of Blackstone Group

Book running lead managers...

Kotak Mahindra Capital, Credit Suisse, JP Morgan, JM Financial and Nomura are the BRLMS to the issue.

Strong financials

The company’s total operating income grew at a CAGR of 10.9 percent between FY16-20

Growing faster than peers…

In FY20, the company had the highest operating EBITdA margin, PAT margin, as compared to 10 publicly-listed peers.

Marquee clients

According to reports, the company is a supplier to auto majors such as Ford Motors, Daimler, Tata Motors and Ashok Leyland.